Westamerica Bancorporation (NASDAQ:WABC) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 58.5% in the third quarter, Holdings Channel reports. The firm owned 34,428 shares of the financial services provider’s stock after buying an additional 12,702 shares during the period. Victory Capital Management Inc.’s holdings in Westamerica Bancorporation were worth $1,701,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WABC. Kimelman & Baird LLC purchased a new stake in Westamerica Bancorporation during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in Westamerica Bancorporation by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 226 shares during the last quarter. SG Americas Securities LLC purchased a new position in Westamerica Bancorporation in the 1st quarter valued at $113,000. CWM LLC boosted its stake in Westamerica Bancorporation by 16.4% during the 2nd quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 514 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Westamerica Bancorporation by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock worth $204,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

WABC opened at $57.60 on Monday. The stock’s 50-day moving average price is $51.92 and its 200 day moving average price is $50.55. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.33. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 10.49 and a beta of 0.54. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.27. The business had revenue of $74.07 million for the quarter, compared to analysts’ expectations of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. As a group, sell-side analysts expect that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a dividend yield of 3.06%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.